Fonterra JV to buy lactose business from Dutch partner Royal FrieslandCampina

Fonterra Cooperative Group, the world’s biggest dairy exporter, said its joint venture with Royal FrieslandCampina will acquire the Dutch milk products group’s pharmaceutical lactose business for about $106 million.

Fonterra’s share of the purchase price is $53 million, the cooperative said in a statement today. The DMV-Fonterra Excipients JV will acquire the FrieslandCampina Domo-Pharma unit subject to regulatory approvals in a deal expected by March, it said.

The transaction will add value to Fonterra by creating a larger scale pharmaceutical lactose business, said Andrei Mikhalevsky, managing director for ingredients. The deal would combine the two companies’ R&D capabilities, he said. 

Businesswire.co.nz

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